Floki Inu price is beating Shiba Inu, Dogecoin, Dogelon Mars in 2023

Floki Inu has emerged as one of the best-performing meme coins in the past few weeks. FLOKI has jumped by 23% in the past five days, outperforming other tokens like Dogelon Mars, Shiba Inu, and Tamadoge. The same performance has happened year-to-date, where it has surged by more than 400%.

Why is FLOKI shining?

Floki Inu is one of the most popular meme coins in the industry. It was established in 2021 during the meme coin mania. Today, it has become a key player in the industry, with its token being valued at over $364 million, making it the 104th bigget cryptocurrency in the world. It is also the third-biggest meme coin after Dogecoin and Shiba Inu.

Floki Inu price has done well this year as demand for its coin has remained at an elevated level. In fact, it is one of the top coins that have jumped by more than 400% this year, outperforming key market indices like Dow Jones and the S&P 500. Most importantly, it has beaten Shiba Inu, which is having traction because of its Shibarium launch.

Read more: How to buy Shiba Inu.

The main reason why FLOKI is doing well is that its ecosystem is thriving. Unlike other meme coins, Floki has invested in key industries like gaming, Decentralised Finance, and non-fungible tokens (NFT). Its Valhalla is a play-to-earn NFT metaverse that has some traction among users.

On the other hand, FlokiFi is a DeFi platform that has seen its total value locked (TVL) jump to over $38 million. On Tuesday, Thena vested over $8.3 million in Floki Locker. This makes it significantly bigger than ShibaSwap. Finally, Floki Inu owns Floki Places, which is a platform where users can trade NFTs.

https://twitter.com/RealFlokiInu/status/1635601706972004353

Further, Floki Inu has made several headlines in the past few days. For example, earlier this month, it was listed in WazirX, one of the biggest Indian centralised exchanges (CEX).

Another important Floki Inu news was that Bybit, a leading crypto exchange, enabled its perpetual futures on its exchange. This means that users can now trade it with up to 12.5x leverage. And on Tuesday, it was integrated in InvestDex, a leading trading platform.

Floki Inu price prediction

The daily chart shows that the Floki price has been in a strong bullish trend this year. It formed a hammer pattern on Sunday and has jumped in the past three days straight. All along, the token has remained above the 100-day exponential moving average (EMA). It has also formed a three white soldiers pattern.

Therefore, there is a likelihood that the coin will continue rising as buyers target the next key resistance level at $0.000050, which is about 23% above the current level. A drop below the current level at $0.000033 will invalidate the bullish view. This price is at the 50-day EMA.